String Metaverse has announced its successful merger with Bio Green Papers Limited, following approval from the National Company Law Tribunal (NCLT). Backed by Spacenet Enterprises, String Metaverse is set to become the first Web 3.0 company to be listed on the main board of the Bombay Stock Exchange (BSE) on October 5, 2024, with an initial share price of Rs 10.
Public Offering Details
The public offering, facilitated by Spacenet Enterprises, requires the listing price to exceed the Rs 10 face value. The company will be renamed from Bio Green Papers Limited to String Metaverse in conjunction with the BSE listing.
As a result of the merger, Bio Green will be delisted at Rs 1.80, allowing the new entity, String Metaverse, to establish itself as a leader in the industry. The company plans to leverage innovative technologies and sustainable practices as it prepares for its launch on the BSE, promising a bright future for all stakeholders involved.
Management on Listing
Krishna Meenavalli, Founder of String Metaverse, expressed excitement about the merger and the forthcoming BSE listing, stating, “This merger not only enhances our financial stability but also aligns with our vision to lead the Web 3.0 revolution. Moving to the BSE main board under our new name is a thrilling opportunity for our investors and stakeholders.”
Global Presence and Market Position
String Metaverse operates international offices in Gift City, Hyderabad, the UAE, and Hong Kong, positioning itself to capitalize on the growing digital economy. As a pioneer in the Web 3.0 sector, the upcoming BSE listing marks significant progress for India’s digital landscape.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)